To understand the meaning of Financial Planning, let us first understand the different meanings of the two words, Financial means Hindi – Money, Money, or Finance, and Hindi means of Planning – Planning, In this way Financial Planning has Hindi meaning – Financial Planning, And financial planning means that you have to make a plan to fulfill all kinds of finance, financial needs, in your life, and in simple words,
” Finance related requirements (financial needs) to complete the plan made (Planning) of the Financial Planning is called”
The financial situation requires ( Financial Needs), such as –
Regular Income For Daily Needs – steady income for everyday expenses,
Security of Income – Security of income, so that we continue to receive regular income (Income after retirement)
Emergency Funds – any emergency situation or event, such as – an economic disaster (Financial Crisis), illness, accident, etc. need FUND (money) ;
Short Term and Long Term Life Goal – Own home, own car, a good education of children, and their wedding, going to visit the country or abroad, and more,
In this way, financial needs may vary individually, but we all need money-related needs.
For every person, fulfilling his financial needs is a goal of his life, which is also related to his personal success.
Now, therefore, you also have some of your, Financial Needs will come, and that inspires always make work and money we Financial Need, and consequently we all continue to work until retirement debut is cracking, So that we can fulfill all these financial needs,
But the critical question is that-
Do we all get success in fulfilling our financial needs? – So the answer is – “No”,
only 5% of people achieve financial success, and the remaining 95% fail and get caught in a Rat Race,